Martin Reith News

Reith to Step Down as Group CEO of Neon

American Financial Group Inc. announced that Martin Reith intends to resign his executive roles with Neon, including stepping down as group CEO of Neon, effective Sept. 30, 2019. He will remain a member of the Neon Underwriting Ltd. (NUL) Board …

Neon Underwriting Promotes Butt to CEO, Washington to Managing Director

Neon Underwriting Ltd. (NUL), Neon’s Lloyd’s managing agency, announced the promotions of Theo Butt to chief executive officer and Matthew Washington to managing director with immediate effect. The appointments are subject to approval by Lloyd’s and the UK Prudential Regulation …

Venture Capital Firm, Beat Capital, to Merge with Insurer Investment Vehicle Paraline UK

Venture capital firm Beat Capital Partners and insurance investment vehicle Paraline UK announced they plan to merge – in a move that is designed “to enhance and further build Beat’s platform to support independent underwriting businesses.” As a result of …

Neon Launches Copenhagen-Based Marine Business, Orca

Neon announced the launch of Orca Insurance Agency, a Lloyd’s approved coverholder which will underwrite Nordic marine business on behalf of Neon Syndicate 2468. Headquartered in Copenhagen and led by CEO Lars Hendriksen, Orca will offer insurance products, risk consultancy …

Neon Launches First ILS Vehicle in UK, NCM Re

Neon announced it has launched the first ILS vehicle in the UK, NCM Re (UK PCC) Ltd., and raised third party capital to support the UK’s first ILS transaction. NCM Re is the first UK-domiciled protected cell company, which utilizes …

Neon Names Heppell from MS Amlin as CFO

Neon has announced the appointment of Richard Heppell as chief financial officer, effective Nov. 20. Most recently CFO at MS Amlin, Heppell oversaw the complex integration of the Amlin and Mitsui Sumitomo Insurance Lloyd’s syndicates, having previously been finance director …

MGA Chord Re Launches as Specialty Reinsurer, Writing on Behalf of Neon

Chord Re, a new underwriting vehicle established by Stefan Long, formerly head of Aspen Re London, has launched operations on Nov. 6. Chord Re expects to both structure and lead programs in specialist classes and will initially underwrite on behalf …

Neon Launches Marine Joint Venture in Italy

Neon announced the launch of an underwriting operation in Italy with Cambiaso Risso, a leading Italian marine broker who will have a minority shareholding in the venture. Based in Genoa, Neon Italy will initially target hull and cargo business placed …

Neon’s M&A Consortium Raises Capacity to £75 Million

Neon has expanded its M&A consortium, with capacity increasing from £50 million ($62.2 million) to £75 million ($93.3 million), effective on Jan. 1, 2017. The consortium is led by Neon and is 100 percent backed by Lloyd’s markets, the London-based …

Neon Appoints McPhee to Newly Created Role of Head of Political Violence

Neon has appointed Gregg McPhee to the newly created role of head of Political Violence. McPhee will join Neon on Oct. 1 2016 and will lead Neon’s existing political violence team, reporting to Darren Lednor, chief underwriting officer of Neon. …